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With less than a month left in the spring market, the best time of year to sell your home is about to end. The window of opportunity is closing, so if you want to take advantage of the strongest buyer demand of the year, now is the time to get your home on the market.
It is incredibly important in this market to price your home correctly. In Orange County, homes priced below $750,000 are in a hot market. Many sellers are drawing multiple offers, some even over asking price. The same is true for homes priced under $600,000 in LA County, as well as homes priced below $500,000 in the San Bernardino area.
There are already signs that the market is shifting.
That said, there are already signs that the market is starting to shift. Demand is peaking in certain price points and the active listing inventory is actually growing. Despite low interest rates, demand is not continuing to grow for two reasons: homes are not realistically priced, and graduations mark the beginning of summer distractions. Buyers are sidelined this time of year because they are out celebrating the successes of family and friends instead of looking for homes.
Don’t worry, though; this is a cyclical downshift in buyer demand. Every year, the listing inventory increases around this time and demand just naturally drops. When that happens, the market cools.
Overall, depending on your price point, the market is extremely hot, and interest rates are low. Still, it is a great time to buy and sell real estate. If you have any questions, give me a call or send me an email. I would be happy to help you!